BioMark Announces Financial Contribution from the City of Quebec to Support Commercialization Initiatives of Its Proprietary Lung Cancer Detection Test

November 07, 2023 at 08:30 AM EST

Vancouver, British Columbia and Quebec City, Quebec--(Newsfile Corp. - November 7, 2023) - BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) ("BioMark") a leading liquid biopsy company focusing on metabolomics for the early diagnosis of hard to detect and treat cancers is pleased to announce today that its wholly owned laboratory subsidiary, BioMark Diagnostic Solutions Inc ("BDS"), has been awarded non-dilutive funding of CAD $231,000 from the City of Quebec through its Vision Entrepreneuriale Québec 2026 to accelerate commercialization and market development activities of its proprietary assay for early detection of lung cancer.

"Today's announcement is a significant example of the positive impact of early lung cancer detection, particularly during the 2023 lung cancer awareness month. We are privileged that the City of Quebec and its team have kept a keen eye on our infrastructure build out and the accelerated pace of commercialization of our diagnostic assays starting with early lung cancer molecular assay which we plan to commercialize within the next 6-9 months. Quebec City has been instrumental for BioMark not only for the talent pool, financial incentives but the vibrant clinical research ecosystem provided by the great partnership with the Quebec Heart and Lung Institute (IUCPQ)," said Rashid Bux CEO and President of BioMark.

BioMark intends to use this funding to support business development and commercialization of its liquid biopsy assay that measures biomarker for early detection of lung cancer. The project leverages its Quebec based fully equipped laboratory which provides a clinical environment to develop an effective, and affordable portfolio of assays for early cancer detection and treatment management.

Mr. Bux further adds, "When we first visited Québec in 2020, we were impressed by the calibre of IUCPQ, the clinicians, researchers and overall infrastructure support and initiatives offered by the City of Quebec. As a group, we are delighted and extremely grateful to have this financial support as we are establishing our Centre of Excellence for our lung cancer assets in Quebec City. Our soon-to-be certified lab led by Dr. Haince, and his group will offer our early lung detection tests initially in Quebec and later across Canada and North America."

2023 Lung Cancer Awareness Month
Every year in November, people come together to recognize and raise awareness of the challenges that come from a diagnosis of lung cancer. It is through this recognition that individuals and groups have helped to make a difference for lung cancer patients, caregivers, family, and friends. Special events and fundraisers are just some of the ways that communities are coming together to help support patients and raise awareness.

About Vision Entrepreneuriale Québec 2026
Focused on entrepreneurship, innovation, growth, financing and support, the Vision Entrepreneuriale Québec 2026 aims to make Québec City the capital of entrepreneurship in the country. It brings together financial assistance programs and measures to help businesses grow. The Vision benefits from more than $134.7 million in funding from the Government of Quebec. The City of Québec, the Secrétariat à la Capitale-Nationale and Québec International act as leading partners in the dissemination of the Vision. For more information, visit ville.quebec.qc.ca/financing.

About BioMark Diagnostics Inc.
BioMark is a leading liquid biopsy company developing a molecular diagnostics technology platform that leverages the power of metabolomics and machine learning algorithms to bring new cancer diagnostics to market and improve cancer prognosis by allowing physicians to detect carcinomas in the pre-symptomatic stages. The technology can also be used for measuring response to treatment and potentially for serial monitoring of cancer survivors. While the Company's current focus is on the commercialization of its liquid biopsy test for early detection of lung, it has a plan to expand into other hard-to-detect and treat cancers such as brain, ovarian, and pancreatic.

Further information about BioMark is available under its profile on the SEDAR website www.sedar.com and on the CSE website https://thecse.com/.

For further information on BioMark, please Contact:
Rashid Ahmed Bux, President & CEO
BioMark Diagnostics Inc.
Tel. 604-370-0779, Email: info@biomarkdiagnostics.com

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of BioMark. Forward-looking information is based on certain key expectations and assumptions made by the management of BioMark. Although BioMark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioMark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioMark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.

The CSE has not reviewed, approved, or disapproved the content of this press release.

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